Message from the President
As President of CBDC Victoria Madawaska-South, it is my great pleasure to welcome everyone to our Annual General Meeting.
At CBDC, our mission goes beyond financing start-ups. We are committed to supporting businesses through every stage—whether it’s acquisition, expansion, transfer, or consolidation. As a community-based organization, we continue to provide financial assistance and counselling services to small and medium-sized businesses, ensuring they have the guidance and resources needed to thrive.
The CBDC is becoming more and more known in our business community, and we remain dedicated to the ongoing development of our region. We had a strong year in 2024–2025, assisting with both new and existing projects, as highlighted in our annual report.
I would also like to take this moment to thank our amazing staff, who consistently do their best in supporting the business community under the supervision of the Executive Director. Their dedication and expertise play a crucial role in the success of our programs and initiatives.
Additionally, I extend my gratitude to our valued partners— ACOA, the Province of New Brunswick, the CBDC New Brunswick Association, Working NB to name a few for their ongoing financial support and commitment to CBDC Victoria Madawaska-South. Their collaboration is instrumental in fostering economic growth and innovation in our region.
Furthermore, I would like to express my sincere appreciation to our Executive Director Ricky Bourgoin and our dedicated Board Members. Their devotion, contribution, and unwavering support play an essential role in advancing business development in our community. Their leadership and commitment have been instrumental in driving our organization forward.
Today, we celebrate the entrepreneurial spirit and the partnerships that drive our business community forward. Your presence here signifies the collective ambition and dedication that make success possible.
Thank you for being part of this journey. We look forward to a productive and inspiring meeting together.
Francine Kanhai, President
Francine Kanhai, President
Message of the Executive Director
Director
and impactful. We received 42 loan applications, of which 36 were approved and 34 were disbursed. The total value of disbursed loans reached an impressive $1,976,753.04, with an average loan size of over $58,000 Notably, four of those loans exceeded $150,000, reflecting growing confidence in our ability to support more ambitious business ventures. In total, our support helped 34 businesses: 8 start-ups, 7 expansions, and 19 maintenance-related projects.
Together, these businesses created 28 new jobs and maintained 88 existing positions—for a total of 116 jobs supported in our community. This is more than a metric; it’s a reflection of families supported, futures secured, and dreams realized.
While financial support is a key part of our mission, it’s not the whole picture. We understand that sustainable success often requires more than capital. That’s why we also delivered 44 business counselling sessions, made 7 onsite visits, and conducted over 200 clients monitoring engagements.
We trained 13 clients through targeted programs designed to equip them with the knowledge and skills needed to navigate today’s business environment. These services are integral to the long-term viability of our entrepreneurs, and we are proud to continue offering them.
In terms of fund performance, we managed a portfolio of 138 active investments valued at over $6.49 million. Since inception, CBDC Victoria Madawaska-South has disbursed more than $51 million across 1,422 loans, proving our lasting commitment to regional development. It is worth noting that our leveraged funds totalled $1.1 million, including over $400,000 in owner equity and $715,000 from other partners. For every dollar invested by CBDC, an additional $0.57 was leveraged, proof of the trust and collaboration we’ve built with our stakeholders.
Of course, none of this would be possible without the people who stand behind the mission. I want to express my sincere thanks to our exceptional staff: Gina, Eric and Julie Your hard work, integrity, and care for our clients are evident in everything you do. Each of you brings something unique to the table, and together, you create a dynamic and resilient team. I am incredibly proud to work alongside you.
To our Board of Directors and volunteers, thank you for your strategic guidance, your countless hours of dedication, and your unwavering belief in our purpose. Your support ensures we stay grounded in our values while continuing to innovate and evolve.
To our clients and partners—thank you for your trust. Your entrepreneurial spirit fuels our passion, and your success is our shared reward. To our financial and community partners, your collaboration is essential. Together, we build stronger foundations for long-term prosperity.
Looking ahead, I am committed to strengthening our impact. This means continuing to provide accessible training, expanding visibility in our region, and ensuring that every client who walks through our doors receives not just support—but a true partnership. We will also continue working closely with stakeholders, government partners, and industry to ensure our programs are aligned with the real needs of our local businesses.
My door remains open, and I encourage anyone with a vision, a challenge, or a dream to reach out. CBDC Victoria Madawaska-South is here to listen, support, and grow alongside you.
Thank you for another impactful year. Let’s continue building a vibrant and resilient business community together.
Ricky Bourgoin, Executive Director
Ricky Bourgoin, Executive
CBDC Victoria Madawaska-South: Building Community Success
CBDC Victoria Madawaska-South works to strengthen local expertise, create wealth and distribute resources more effectively across our region — from Sainte-Anne-de-Madawaska to Plaster Rock and Perth-Andover. Our key decisions are guided by dedicated board members, all of whom are local business and community leaders who volunteer their time to support our mission.
Creating Local Jobs: Over the past year, CBDC Victoria Madawaska-South helped to create and maintain 119 jobs within the community. Support for small businesses stimulates local development and diversifies the economy.
Maintaining Rural Populations: CBDC Victoria Madawaska-South is proud to be making an active contribution to continued population growth focusing on entrepreneurship and investing in homegrown projects. We also work closely with the region’s schools, organizing events to answer questions and promote entrepreneurship as viable career choice.
Leveraging Local Resources: CBDC Victoria Madawaska-South understands how to invest in people and their ideas like no other. Since the pandemic, several local sole proprietorships have expanded into companies with five or more employees. One such success story is Marc Desjardins, a business owner who got his start with support from our CBDC. Today, he owns multiple businesses, creating a ripple effect of success redistributing money in our community through the hiring of subcontractors and contributing donations to community groups. Our impact goes beyond entrepreneurship — we help strengthen rural communities.
Fostering Cooperation and Solidarity: Investing in community projects remains a top priority for CBDC Victoria Madawaska-South. Over the past year, we've proudly supported organizations including the Grand Falls Regional Potato Festival, the Acanthus Art Gallery, the Grand Falls Golf Club, the Junior A hockey team and the Network of Women (NOW). To stimulate the regional economy, we work closely with the Valley Chamber of Commerce, also serving their board of directors, to promote local entrepreneurs. Each year, we recognize the efforts of a young entrepreneur and a future entrepreneur at our annual Recognition Gala.
Improving Quality of Life: This past year, CBDC Victoria Madawaska-South supported Projet Rouge as part of our efforts to assist the Escale MadaVic Foundation, a non-profit organization that helps families facing domestic violence. We held a Christmas food drive as part of a CBDC network initiative. As the winners, we received $500, which we donated to Dexter Learning Centre, an organization that supports individuals with a disability. We also donated $500 to each of the three food banks in our region, and supported the Breakfast for a Cause initiative. Through these activities and our ongoing collaboration with small businesses, we continue to create a lasting impact across our rural regions.
Key Business Sectors in 2024-2025
Construction: A sharp increase in construction projects requires an improvement in working capital, as well as the creation of new businesses in the field.
Seasonal services: A steady demand for seasonal labour services such as lawn care and snow removal, which results in a greater need for working capital.
Transportation: There is strong demand for financial assistance from the CBDC among businesses in this sector, driven by ongoing needs for equipment maintenance and modernization.
Investment in the region
Requests processed
Applications received
Applications
Number of sessions
Number of business counselling sessions Impact on businesses
Number of clients New start-up
Impact on employment
Total
Building strong
entrepreneurial leverage in the Victoria Madawaska-South region
Total value of assistance from the CBDC and financial leverage over the past five years
In 2024–2025, CBDC Victoria Madawaska-South provided $1.97 million in financial assistance, generating $1.12 million in leverage. This recovery reflects renewed confidence from financial partners in the region’s small businesses.
Number of applications approved for each CBDC loan product
Breakdown of amounts disbursed per loan product (in millions of dollars)
General Business Loans accounted for 82% of total disbursements, maintaining their central role in the loan portfolio. Young entrepreneurs also received strong support, with 10 loans totaling over $354,000.
The number of businesses who received financial assistance over the past five years
34 businesses received support from CBDC Victoria Madawaska-South, continuing a steady trend of strengthening the local business environment, for both start-ups and existing enterprises.
Jobs created and maintained in the community over the last five years
The 2024–2025 year marked a strong rebound in job creation and retention. These results confirm the essential role of the CBDC in the region’s economic vitality.
CBDC Programs and Services
Who We Are
CBDCs are not-for-profit organizations run by volunteers from the local business community who firmly believe in improving the economic viability of their region. There are 41 CBDC offices in Atlantic Canada dedicated to the development of small businesses and assisting entrepreneurs in accessing financing and other business training and resources.
What We Do
Our objective is to help build stronger communities in Atlantic Canada by stimulating private sector employment in our rural areas. CBDCs work throughout rural Atlantic Canda in the creation, expansion and modernization of small and medium sized businesses.
What We Offer Entrepreneurs
General Business Loan
Designed to assist entrepreneurs when traditional avenues of financing are not available, for either creating, purchasing or succession planning.
First-Time Entrepreneur Loan
Targeted financing for the first-time entrepreneurs starting or purchasing their first business.
Youth Loan
Tailored solutions for young entrepreneurs aged from 18 to 34 that are interested in starting, expanding or modernizing their business.
Innovation Loan
Assist in the development of the knowledge-based economy, the adaptation and commercialization of technology.
Social Enterprise Loan
Tailored financing designed to assist social enterprises.
Self-Employment Benefit (SEB)*
Provides financial and coaching support to new entrepreneurs during the planning and start-up phase of their new business.
Business Counselling
Business counselling in the form of advice to new and established entrepreneurs.
Consultant Advisory
Services
Available to small and medium-sized business, as well as non-for-profit organization, to access technical and financial assistance by engaging consultants to assist them in various topics.
Skills Training
Tailored trainings in specialized areas such as marketing development, bookkeeping, feasibility studies and business analysis.
*The SEB Program is funded by the Government of Canada through the Canada-Provincial Governments Labor Market Agreements.
